Chip manufacturer SMIC to venture into crypto mining hardware
Semiconductor Manufacturing International Corporation (SMIC) is planning to raise $2.8 billion in capital through a listing on Shanghai's tech-focused STAR Market. SMIC is China's largest semiconductor fabrication firm.
The company plans to use the capital to start a production line offering 14nm chips - the standard for processors used in smartphones and crypto miners. SMIC is also joining forces with Canaan to manufacture a crypto miner, details of which remain undisclosed.
